Worth Avenue Capital arranges $130,000 loan

New Haven, CT Worth Avenue Capital, LLC closed a $130,000 commercial loan to a small market/restaurant. The borrower is using the loan proceeds for working capital purposes and the loan is secured by a first mortgage on a commercial building that is situated in a historic downtown location on the shoreline. The LTV on this transaction is 15%.

This small business has been a multiple repeat borrower for WAC as they continue to access bridge financing from WAC for their short term working capital needs. The borrower will pay off the loan through general cash flow and the loan was funded by WAC in less than one week.